Binance.The US backed out of a $1.3 billion deal to buy the assets of bankrupt crypto lender Voyager Digital, citing a “hostile and uncertain regulatory climate.”
In a court filing on Tuesday, Voyager’s lawyers said that the company kept all of its rights regarding a $10 million good-faith deposit that Binance.US paid to Voyager and a reverse-termination fee that Binance owes.US.
A spokesperson for Binance.US said in a statement, “The hostile and uncertain regulatory climate in the United States has created an unpredictable operating environment that affects all of American business.” “Our main goal is to give our customers a safe place to take part in the digital asset economy.”
The move adds another problem for Voyager, which has been trying to pay off its debts by selling its assets. The company went bankrupt last year and has been trying to sell its assets to get money to pay off its debts. At first, the company planned to sell its assets to the major digital asset exchange FTX. However, when FTX collapsed in November, the deal fell through.
Binance.The US joined the fight later, but regulators were against the deal. Last month, a federal judge briefly stopped Voyager from completing the proposed deal. This gave the U.S. government more time to find problems.
Voyager said that after Binance.US ended the asset purchase agreement, it would use an option to give its customers cryptocurrency and cash straight through the Voyager platform.
